Okabena Investment Services Inc. Sells 1,206 Shares of Philip Morris International Inc. (NYSE:PM)

Okabena Investment Services Inc. lowered its position in Philip Morris International Inc. (NYSE:PM) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,776 shares of the company’s stock after selling 1,206 shares during the period. Okabena Investment Services Inc.’s holdings in Philip Morris International were worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Philip Morris International by 7.4% during the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after buying an additional 736,961 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Philip Morris International by 4.7% in the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after buying an additional 469,806 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Philip Morris International by 0.9% during the second quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock valued at $959,368,000 after buying an additional 86,667 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

PM has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America raised their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group upped their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $129.99 on Friday. The company has a market capitalization of $202.11 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.30 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The business has a fifty day moving average price of $124.77 and a two-hundred day moving average price of $114.74.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 85.71%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.